Breakwall Capital, an independent asset management firm specializing in the energy industry, completed the initial close of Breakwall Energy Credit Partners Fund at $125 million. BEC I is a private credit fund focused on senior secured first lien direct lending investments within the energy infrastructure, infrastructure services and energy transition subsectors. Breakwall’s financing efforts are expected to fill a void left by traditional financing markets and other generalist-direct lenders by offering an asset-based loan product that is purpose-built to support growth.
“The formation of Breakwall and the first close of BEC I reflect the strength of our relationship, solidified over the last two decades, and the foundation we have built to support middle-market and developing-energy companies while driving returns for our investors. It is also a testament to the conviction of both longstanding investors and new LPs partnering with us on our inaugural fund,” Christopher Abbate, Jamie Brodsky, and Daniel Flannery, managing partners of Breakwall, jointly said. “Our vision is to build an employee-owned credit investment platform that is the lender of choice for borrowers innovating and driving the energy future. This close marks a significant step toward achieving this vision. We are grateful for our team and investors; with their trust and support, we will continue to address the significant demand for capital and investment opportunity presented by an evolving energy ecosystem and play a meaningful role in responsibly financing future energy needs.”
The BEC I first close is anchored by commitments from new and existing institutional investors, including New Mexico ERB. The portfolio already includes two investments: a green loan to Silfab Solar, made in November 2024, and a first lien sustainability-linked loan to Alliance Energy Services, made in April 2025. These deals were initially funded using a $250 million warehouse facility provided by an asset manager and advisory firm, along with strategic co-investment, providing BEC I scalable funding ahead of the initial closing of BEC I and related LP capital calls. A portion of each deal will be purchased by BEC I shortly after close, subject to fund concentration limits.
With an evolving pipeline, the team is targeting more than $650 million of actionable direct lending opportunities. Breakwall expects to close additional investments in the coming quarters, seeking to complete the $500 million fundraise of BEC I in 2026.
Latham & Watkins served as legal counsel to Breakwall Capital.
